Jan 11, 2013 4:00am PST
process for the next treasury secretary is moving forward with president obama naming jack lew as his pick. "i trust his judgement, i value his friendship, i know very few people who have greater integrity than the man to my left." lew currently serves as the chief of staff in the obama administration and could become treasury secretary when timothy geithner leaves later this month. joining us now via skype with insights is jim bianco of bianco research. how is wall street responding? > > lukewarm on the jack lew nomination. they're not really that thrilled. > other than lew's poor penmanship, how well will lew's no-drama approach play out in the upcoming debt ceiling talks? > > in the debt ceiling talks it is going to be interesting. other than the no drama, he has got a history of being confrontational with republicans, and that is going to be difficult because that is who he's got to deal with. > didn't he once work on wall street? > > briefly at citibank for a couple of years around the time of the financial crisis. > do you think the republicans will go along with his nomination?
Jan 10, 2013 4:00am PST
. president obama is expected to soon name jack lew the new head of the treasury department. lew currently serves as white house chief of staff, but is reportedly the president's pick to fill the role as head of the treasury which will be vacated by timothy geithner following the inaguration. lew has served as budget director under both president obama and president clinton. he is also a wall street alum, as citigroup's managing director before heading to capitol hill. talks on gun control led by vice president joe biden are underway, with the vp promising something will be done to avert mass shootings in america. "urgent action. and the president and i are determined to take action." biden is hosting a series of meetings with people from all walks of life to discuss gun control. that includes walmart, the nation's largest seller of guns and ammunition. earlier, it was reported a rep would not attend the meetings; but later the retailer said it would send an approriate representative. morgan stanley is cutting back on its senior staff in its latest round of job cuts. the firm will eliminat
Jan 9, 2013 4:00am PST
staff jack lew is said to be high on the list. the irs will accept 2012 tax returns starting january 30th, 8 days later than planned due to tax law changes in the fiscal cliff bill. now for an early look at how alcoa's earnings could affect today's trading. larry shover of sfg alternatives joins us. and what do you think here larry? > > yesterday's number was good. most people weren't expecting them to beat on revenue. but they beat by quite a bit. people were maybe thinking earnings per share, that could be better. but that is a good thing for the market, a good thing for the materials sector. i think it is going to give a lot of confidence going forward. > the stock market pulled back yesterday. should investors be concerned about that, or is it just one of those things that has to happen here? > > let's look at what happened. we had a gigantic rally january 2nd. right now we are just digesting and consolidating those gains. we are seeing correlations break down, which means certain groups are doing better than others. people are just kind of consolidating what they have and lookin